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Czech Retail Sales Growth At 8-Month High

Czech retail sales growth accelerated in November to the highest level in eight months, figures from the Czech Statistical Office showed Thursday.

Retail sales, excluding automobile trade advanced an unadjusted 7.8 percent year-over-year in November, faster than the 5.9 percent rise in October.

Moreover, the latest rate of growth was the strongest since March, when sales had grown 9.2 percent.

Retail trade of automotive fuel alone climbed 7.5 percent annually in November, while sales of food, beverages and tobacco in specialized stores went up by 1.4 percent.

On a calendar-adjusted basis, retail sales grew the same 7.8 percent in November from a year ago.

Retail sales, including sales of automotive trade increased at a slower rate of 4.9 percent yearly in November, following a 7.0 percent spike in the preceding month. Economists had expected the growth to moderate to 3.6 percent.

On a monthly basis, retail sales rose a seasonally adjusted 3.1 percent in November.

The material has been provided by InstaForex Company – www.instaforex.com